Now, I know enough about position from HE to know which situation is better for me, but I guess what I want to know is how much better is it for me to be IP? Is acting last in Stud about as valuable as having the BTN in HE? More? Less?
Stud is massively complicated but position has utmost importance in all forms of poker. It is going to be a tough dynamic to learn how to use stud-position well but it's right up there in importance.
Should my likelihood of acting last on later streets affect my starting hand selection (e.g. can I loosen up if I am likely to be last on later streets)? If so how should I loosen up? How should I estimate how likely I am to act last on later streets?
Just think to your left is the 2c, a As raises next a, T calls, a J calls, a Q calls and you have (8h5h)6s before the bring. Ok now the Ace is on your right, how do you feel about the hand? In the first example you likely can peel 4th if you pick up a bricky card, like 2h say, but if you are trapped in the second example between the Ace and scary boards, well that changes things.
My example may be extreme and/or obvious, so more generally, what kind of positional considerations come up often in Stud? Examples would be very helpful.
Off the top of my head, I can give one, straight from 7CSFAP which you must read and will answer many of your questions.
Say you have (AhT)Th8h and are up against a probable pair of Queens, XXQs3, you should raise to get HU as you aren't in that bad of shape, any card improves you hand will give you the positional lead (AT8 as long as your opponent does hit a Q or you both catch Aces) and if you make your 4-flush on 5th, you will be likely checked to, where, depending on what your opponent catches/read on him you can take a free card or bet.
-Joe Tall